Baker Hughes (NASDAQ:BKR) Stock Price Target Cut by UBS Group

Baker Hughes (NASDAQ:BKR) had its price target dropped by UBS Group from $72.00 to $69.00 in a research note issued on Wednesday. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 23.39% from the stock’s previous close.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. TD Cowen upped their price objective on Baker Hughes from $77.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wolfe Research began coverage on shares of Baker Hughes in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 price target on the stock. Stifel Nicolaus increased their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group cut their price target on shares of Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $71.41.

Baker Hughes Stock Down 2.1%

Shares of Baker Hughes stock opened at $55.92 on Wednesday. Baker Hughes has a 1-year low of $43.92 and a 1-year high of $70.41. The company has a market capitalization of $55.51 billion, a PE ratio of 18.04, a P/E/G ratio of 2.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The business has a 50-day moving average of $60.81 and a 200-day moving average of $61.13.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, equities analysts forecast that Baker Hughes will post 2.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. raised its holdings in Baker Hughes by 41.8% during the second quarter. QRG Capital Management Inc. now owns 107,019 shares of the company’s stock valued at $5,940,000 after buying an additional 31,537 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Baker Hughes by 1,045.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 43,192 shares of the company’s stock valued at $2,397,000 after purchasing an additional 39,422 shares during the period. Anchor Investment Management LLC grew its holdings in Baker Hughes by 36.3% in the 2nd quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock valued at $53,000 after buying an additional 254 shares during the last quarter. Talon Private Wealth LLC increased its position in Baker Hughes by 17.2% in the 2nd quarter. Talon Private Wealth LLC now owns 57,411 shares of the company’s stock worth $3,186,000 after buying an additional 8,419 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Baker Hughes by 54.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 42,996 shares of the company’s stock worth $2,386,000 after buying an additional 15,107 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.